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$32bn windfall for Iran as sanctions lifted
Iranian central bank chief Valiollah Seif announced on Tuesday that Iran would receive $32 billion of unfrozen assets after sanctions were lifted as part of a historic deal with world powers over its nuclear programme.
According to state television, Seif said that $28 billion (25.8 billion euros) would go to the central bank, and $4 billion "will be transferred to the state treasury as the share of the government".
The unfreezing of assets comes after the UN atomic watchdog confirmed at the weekend that Iran had complied with measures imposed by the deal with global powers reached in Vienna in July.
The assets can be used "to buy and import goods, as the entry of such an amount of currency in to the country is not logical", Seif said.
The central bank plans to keep the funds "in centralised and safe accounts" abroad, he added.
The price of oil, which contributes more than 80 percent to Gulf states' revenues, shed more than 20 percent this year to drop below $30 a barrel. This follows a plunge of 65 percent in the past two years.
All seven Gulf bourses saw a wave of panicked sell-offs, sending indices to multi-year lows.